Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. 🚀 Mark Cuban slams SEC's Gary Gensler: Entrepreneur Mark Cuban predicts that cryptocurrency regulation will impact the 2024 presidential election significantly. He criticizes SEC Chair Gary Gensler for allegedly hindering innovation and investor protection within the crypto industry.

2. 🔍 US government is Going After Tether: Ripple CEO Brad Garlinghouse sheds light on the U.S. government's increased scrutiny of Tether, a major stablecoin issuer.

3. 🛡️ North Korean Hackers 'Durian' Malware: North Korean hackers deploy sophisticated malware named "Durian" to target South Korean crypto firms, posing significant cybersecurity risks.

4. 📈 Technical Analysis Masterclass - You are too focused on Bitcoin and you forgot about the 2nd biggest cryptocurrency? Watch UseTheBitcoin’s latest Youtube video “Ethereum Price Prediction (Going To The Moon!) and know what our technical analysis expert says about Ethereum and what’s happening! But if you want REAL insider information, join us in our Discord channel!

5. 💡Feature of the Day - Dormant Bitcoin Whales Transfers $61M in BTC: Two long-dormant Bitcoin wallets holding a combined 1,000 Bitcoin acquired over a decade ago suddenly become active, triggering speculation about their intentions and potential market impact.

   
   All this and more in today’s headlines!

📰 News Highlights:

🚀 Mark Cuban slams SEC's Gary Gensler [Source][Source]

Renowned billionaire and entrepreneur Mark Cuban predicts that the regulation of cryptocurrency will significantly influence the upcoming 2024 presidential election.

Cuban asserts that the handling of crypto by regulatory bodies, particularly the Securities and Exchange Commission (SEC) under Chair Gary Gensler, will resonate with voters, particularly the younger and independent demographic.

In a candid social media post, Cuban criticized Gensler for what he perceives as inadequate protection of investors and stifling innovation within the crypto industry.

He contends that Gensler's regulatory approach has hindered legitimate crypto businesses, potentially deterring entrepreneurs and impeding the industry's growth.

🔍 US government is Going After Tether [Source][Source]

Brad Garlinghouse, CEO of Ripple, sheds light on the U.S. government's intensified scrutiny of Tether, a leading stablecoin issuer, signaling potential implications for the broader crypto ecosystem.

Garlinghouse asserts that regulatory actions against Tether could precipitate unforeseen market disruptions, echoing concerns about regulatory uncertainty.

The comments come amid escalating regulatory scrutiny of Tether's operations, with policymakers expressing apprehensions about the stablecoin's impact on financial stability and its compliance with regulatory standards.

🛡️ North Korean Hackers 'Durian' Malware [Source][Source]

State-sponsored North Korean hackers deploy a sophisticated malware variant dubbed "Durian" to target South Korean crypto firms, posing significant cybersecurity risks to the industry. The emergence of Durian malware underscores the evolving tactics employed by malicious actors to infiltrate crypto networks and compromise sensitive information.

The targeted attacks, orchestrated by the Kimsuky hacking group, exploit vulnerabilities in security software utilized by South Korean crypto firms, highlighting the importance of robust cybersecurity measures.

The utilization of legitimate tools alongside malware underscores the complexity of cyber threats facing the crypto sector, necessitating enhanced vigilance and proactive defense strategies.

📈Technical Analysis Masterclass:

📈 Ethereum Price Prediction (Going To The Moon!)

A significant Ethereum whale strategically withdrew funds from Binance to stake, borrow against holdings, and strengthen their ETH position. This surge in whale activity is viewed positively, suggesting a potential stabilization point for Ethereum amid recent market fluctuations.

Technical Analysis:

• Ethereum's chart reveals a discernible bullish flag pattern, characterized by a pole, flag formation, and an eagerly awaited outcome.

• Additionally, a bullish divergence is observed within the Relative Strength Index (RSI), hinting at a potential divergence between price movement and momentum, historically preceding price upticks.

Historical Analysis:

• Historical chart analysis reinforces the potential impact of similar patterns, historically preceding significant price upswings.

Caution and Risk Awareness:

• Caution is advised, recognizing the inherent unpredictability of market dynamics and the influence of external factors such as breaking news and potential market manipulation.

• Traders are reminded to approach trading prudently, allocate funds judiciously, and be mindful of the associated risks.

Watch UseTheBitcoin’s latest Youtube video “Ethereum Price Prediction (Going To The Moon!)” to see what our technical analysis expert thinks about it!

💡 Feature of the Day: 

💼 Dormant Bitcoin Whale Transfers $61M in BTC [Source][Source][Source]

Two long-dormant Bitcoin wallets, holding a combined 1,000 Bitcoin acquired over a decade ago, suddenly spring to life, triggering speculation about their intentions and potential market impact.

The unexpected movement of these dormant wallets, totaling $61 million in BTC at current prices, underscores the intrigue surrounding crypto's early adopters and their strategic maneuvers.

While the motives behind the transfers remain unclear, observers speculate on various scenarios, ranging from portfolio rebalancing to strategic asset management.

😂 Crypto Meme of the Day: 

And that’s it for this today.

With all of the recent hacks taking place, remember to protect your crypto assets with today’s sponsor Trezor hardware wallets.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com